Tom Lee Sees Ethereum at $250,000, Bigger Than US Treasury Market
Summary
- BitMine Chairman Tom Lee presented a long-term price target of $250,000 for Ethereum (ETH).
- CoinDesk said that if Ethereum reaches $250,000, its network value would climb to $30 trillion, making it larger than the US Treasury market.
- CoinDesk said Lee's forecast would require Bitcoin to rise by a similar multiple or the Ethereum-to-Bitcoin ratio to move well beyond its historical range.
Forecast Trend Report by Period
BitMine Chairman Tom Lee said Ethereum could climb above $250,000.
CoinDesk and other outlets reported on June 4 that Lee, speaking at the Proof of Talk conference in Paris on June 3, set a long-term price target of $250,000 for Ethereum. He said that as artificial intelligence agents account for a greater share of traffic, a machine-to-machine economy will emerge and Ethereum will become the base currency for buying computing power. In that scenario, the Ethereum network could be worth trillions of dollars, he added.
CoinDesk said Ethereum's network value would reach $30 trillion if the token rises to $250,000. That would make it larger than the US Treasury market and roughly equal to the value of all the gold ever mined.
CoinDesk added that, for Lee's forecast to hold, Ethereum would need to capture a substantial share of global financial transaction volume that no previous asset has secured. Bitcoin would also need to rise by a similar multiple, or the Ethereum-to-Bitcoin ratio would have to move well beyond its historical range.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
